New owners have big plans for Innovation Park

Innovation ParkInnovation Park, the largest office complex in University Research Park, has new owners with ambitious plans that include more offices, housing, shopping and more. Partners Group and Accesso Partners recently purchased the sprawling former IBM manufacturing facility and 200 acres of property for $270 million.

The new owners are developing plans that could nearly double the amount of office space, plus add up to 1,000 apartments, retails pace and a hotel, the Charlotte Observer and Charlotte Business Journal report.

The facility has already undergone tremendous growth since the previous owner, BECO Management, purchased the complex for $41.2 million in 2010, at the height of the great recession.

Several thousand people now work at Innovation Park. Major tenants include Allstate, Wells Fargo and AXA.

 

Neighboring office/warehouse also has sold for office redevelopment

A nearby office/warehouse that IBM built in 1982 also has a new owner with plans for major redevelopment. Shorenstein Properties has bought a 490,000 SF office/warehouse and 51 acre campus at 6800 Solectron Drive, directly across IBM Drive from Innovation Park.

In a news release about the sale, the new owner said it “intends to extensively redevelop the property into a high-quality Class-A office project with outdoor amenity space, increased parking capacity, and enhanced access to surrounding roadways.”

Read more about the 6800 Solectron Drive sale.

0 Comments


Receive Up to Date News


Receive Economic Development News


View Past Newsletters


View Post by Category


Press Releases

University City Partners welcomes our newest board members

  University City Partners welcomes its newest members of the UCP Board of Directors: Charlotte City Manager Marcus Smith and Michael Fung, a regional leader for Wells Fargo's Corporate Properties Group. The University City Partners Board of Directors consists of...

Response to tragic police incident and unrest

Last night our community was at the center of a tragic police incident followed by several hours of demonstration, aggressive agitation and unrest. Our neighborhoods, businesses, retail centers and institutions were impacted with activity that has left us all feeling...

Introducing our UNC Charlotte interns

University City Partners is proud to introduce our "Class of 2016" - our fall semester interns from UNC Charlotte. Seniors Hollis Maye-Keye and Cagney Reeves will help us with communications and planning - key functions for our success. We encourage you to consider...

UCP video report: Planning for our transit-powered future

University City Partners has launched a new feature - a monthly video report on how we are investing time and resources to build University City. Today's report: UCP is leading a planning effort to make the area around the future JW Clay Transit station a more...

Our 2016 Annual Report chronicles a landmark year

The dramatic changes taking place across University City can be hard to keep up with - unless you have the University City Partners annual report. Our brand new 2016 University City Partners Annual Report chronicles these changes over the past year (July 2015-June...

University City Partners welcomes new board members

University City Partners welcomes four new members to its board of directors, including two UNC Charlotte grads. Tracy Dodson with Lincoln Harris, John McAlister with Electrolux, Phil Nicholenko with TIAA and Jane Wu, founder of Carolina States Regional Center, have...

Thanks for taking our survey; we heard you!

Our recent invitation to take a brief survey about University City Partners drew more than 100 participants and many useful responses. ”The survey was like a pulse check to make sure that what we are hearing in our meetings also represents the opinions of all of the...

University City Partners adds planning & development director

Tobe Holmes has joined University City Partners as its planning and development director. Holmes, formerly with Center City Partners, will oversee all UCP planning and development initiatives. At Center City Partners, Holmes managed economic and community development...

Meet our UNC Charlotte interns

One benefit of having UNC Charlotte nearby is the amazing wealth of student interns. We landed three of the best this semester: Meredith Avant (Communications with PR concentration), Miguel Avila (Economics with innovation focus), and Charles Trowell (Architecture...

UCP Annual Report: Mobilizing the New Urban Center

2015 has been exceptional for University City and University City Partners, as our fresh-off-the-digital presses “2015 Annual Report” makes clear with exclamation marks! The report chronicles the opening of I-485, rapid progress on the LYNX light-rail line, strong...

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Recieve Our University City Newsletter!
Why not have the latest news come right to your inbox?
ErrorHere